Mitek Systems Lowers 2025 Revenue Guidance to $174M-$177M

Mitek Systems has revised its 2025 revenue guidance to $174M-$177M, narrowing its previous range of $170M-$180M. The company has also tightened its full-year fiscal 2025 adjusted EBITDA margin guidance to 28%-29%, down from 26%-29%. The new guidance is below the consensus estimate of $176.41M.

Title: Mitek Systems Updates 2025 Revenue and EBITDA Margin Guidance

Mitek Systems, a leading provider of digital identity verification and fraud prevention solutions, has revised its 2025 financial guidance. The company announced that its full-year revenue is now expected to range between $174 million and $177 million, a narrowing of its previous range of $170 million to $180 million. Additionally, the adjusted EBITDA margin guidance has been tightened to 28% to 29%, down from the previous range of 26% to 29% [1].

For the third quarter of fiscal 2025, Mitek reported total revenue of $45.7 million, representing a 2% year-over-year increase. SaaS revenue grew by 23% year-over-year, reaching $19.3 million. The company's GAAP net income stood at $2.4 million, up from $0.2 million in the prior year. The GAAP net income per diluted share was $0.05, compared to $0.00 a year ago. The adjusted EBITDA was $13.1 million with a margin of 28.6%, up from 26.9% a year ago [2].

CEO Ed West highlighted the company's solid performance, particularly in SaaS revenue growth. He emphasized that the company is executing on its strategy of shifting to SaaS, streamlining operations, and aligning product investments around a unified, integrated platform [1].

The revised guidance indicates that Mitek expects fourth-quarter revenue to be between $39 million and $42 million. The new adjusted EBITDA margin guidance is below the consensus estimate of $176.41 million [1].

Overall, Mitek's financial performance in the third quarter underscores its strong position in the digital identity and fraud prevention market, positioning the company for continued growth and profitability in the coming quarters.

References:
[1] https://www.tradingview.com/news/tradingview:20ac1cae2e929:0-mitek-systems-reports-fiscal-2025-third-quarter-financial-results/
[2] https://www.gurufocus.com/news/3046282/mitek-reports-fiscal-2025-third-quarter-financial-results-mitk-stock-news